Demnark/The Netherlands: Rockwool's board of directors has approved a plan to invest Euro23m in a major expansion of its Rockpanel cladding board business. The investment will be allocated to establishing a new state-of-the-art press line at the group's plant in Roermond in the Netherlands.
Rockpanel cladding boards are used as decorative and weather-protecting building elements on facades, dormers and rooflines. The main sales are in north-western Europe with Benelux, Germany, Denmark and UK accounting for the majority of the business. Sales of Rockpanel boards have seen strong double-digit growth in recent years and this is expected to continue both in the existing geographies as well as in new European markets.
Commenting on the expansion plan, CEO Eelco van Heel said, "The aesthetic and technical benefits as well as the strong sustainability profile have made the Rockpanel boards increasingly popular amongst architects and installers. We are confident that we can turn this business into a strong European player which can contribute significantly to the future of the Rockwool Group."
